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Fair Value Measurements and Disclosures (Tables)
 12 Months Ended
Dec. 26, 2015
Fair Value Disclosures [Abstract]  
Assets and liabilities measurements at estimated fair value on recurring basis excluding accrued interest components

The following tables present the Company’s assets and liabilities measured at estimated fair value on a recurring basis, excluding accrued interest components, categorized in accordance with the fair value hierarchy (in thousands), as of the following dates:

 

 

 

December 26, 2015

 

 

December 27, 2014

 

 

 

Fair Value Measurements

Using Input Types

 

 

 

 

 

 

Fair Value Measurements

Using Input Types

 

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

590

 

 

$

—

 

 

$

—

 

 

$

590

 

 

$

610

 

 

$

—

 

 

$

—

 

 

$

610

 

Commercial paper and corporate debt

   securities

 

 

—

 

 

 

4,568

 

 

 

—

 

 

 

4,568

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total cash equivalents

 

$

590

 

 

$

4,568

 

 

$

—

 

 

$

5,158

 

 

$

610

 

 

$

—

 

 

$

—

 

 

$

610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury, U.S. Government and U.S.

   Government agency debt securities

 

 

4,401

 

 

 

20,164

 

 

 

—

 

 

 

24,565

 

 

 

2,497

 

 

 

20,537

 

 

 

—

 

 

 

23,034

 

Commercial paper, municipal securities

   and corporate debt securities

 

 

—

 

 

 

20,366

 

 

 

—

 

 

 

20,366

 

 

 

—

 

 

 

26,252

 

 

 

—

 

 

 

26,252

 

Total marketable securities

 

$

4,401

 

 

$

40,530

 

 

$

—

 

 

$

44,931

 

 

$

2,497

 

 

$

46,789

 

 

$

—

 

 

$

49,286

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total(1)

 

$

4,991

 

 

$

45,098

 

 

$

—

 

 

$

50,089

 

 

$

3,107

 

 

$

46,789

 

 

$

—

 

 

$

49,896

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration payable

 

$

—

 

 

$

—

 

 

$

1,490

 

 

$

1,490

 

 

$

—

 

 

$

—

 

 

$

2,397

 

 

$

2,397

 

 

(1)

Excludes $33.0 million and $34.1 million held in operating accounts as of December 26, 2015 and December 27, 2014, respectively.
Fair value measurement on recurring basis, unobservable input reconciliation

 

Changes in Level 3 liabilities (in thousands)

 

 

 

 

Fair value at  December 28, 2013

 

$

2,783

 

Payments made to Zygo Corporation

 

 

(587

)

Change in fair value included in earnings

 

 

201

 

Fair value at  December 27, 2014

 

 

2,397

 

Payments made to Zygo Corporation

 

 

(851

)

Change in fair value included in earnings

 

 

(56

)

Fair value at  December 26, 2015

 

$

1,490

 

 
Outstanding derivative instruments

 

The following table summarizes the Company’s outstanding derivative instruments on a gross basis as of December 26, 2015:

 

 

 

Notional Principal

 

 

 

(in millions)

 

Undesignated Hedges:

 

 

 

 

Forward Foreign Currency Contracts

 

$

30.5